Popular restaurant next to TV chef’s diner in millionaires’ seaside playground suddenly closes over ‘£600k debt’
A BELOVED restaurant next to a TV chef’s diner has suddenly shut down over an eye-watering £600,000 debt.
The Tandy, located in Sandbanks – dubbed millionaires’ playground – shocked residents with their announcement.
The seaside eatery, on Banks Road, went into administration last month after waving goodbye to clientele in January.
David Meany and Gary Thompson, liquidators at Quantuma, listed 52 company creditors in a statement of affairs to Companies House.
It includes Westbeach, in Bournemouth, which is owed £214,000 and Aruba, also in Bournemouth, which is owed £173,000, the BournemouthEcho reported.
And HMRC, listed as a creditor twice, is owed a combined £164,000 from VAT and PAYE, while BCP Council is due £2,938.
Meanwhile, meat supplier County Foods should have received £1,291, fishmonger Hutchings is short £2,320 and Jurassic Coast Fine Foods, is owed £2,615.
The 52 creditors are owed a combined £622,609 by The Tandy.
And restaurant neighbours Rick Stein, the seafood joint owned by the celeb chef.
Despite going into liquidation, the owners have announced they will be re-opening for Easter.
Mr Price, 64, and his wife Toni Laurel Spence opened the restaurant in early 2023.
Their advert for jobs reads: “We’re building a new team at one of the most beautiful beachside locations.
“This is your chance to be part of an exciting new chapter with great opportunities in a stunning setting.”
The Tandy isn’t the only restaurant on the Sandbanks to be liquidated recently.
Lazyjacks in Panorama Road closed in November 2023, having owed £351,197 to 29 creditors.
It was described as a “hidden gem” of the peninsula and was known for its Caribbean themed venue and cocktails.
Later on, it reopened as Lazy Jacks at the end of March last year.
Its new owner Merle Crampton and his business partner made sure it underwent a full refurbishment and rebranding.
Sandbanks is beloved by celebrities, and is a popular place to live for those who can afford it.
For it is the fourth most expensive place to live in the UK as Britain’s equivalent to Miami Beach.
The hotspot for the rich and famous is home to many celebs such as Rick Stein, Harry Redknapp, Karl Pilkington, John Lennon, and Liam Gallagher.
What is happening to the hospitality industry?
By Laura McGuire, consumer reporter
MANY Food and drink chains have been struggling in recently as the cost of living has led to fewer people spending on eating out.
Businesses had been struggling to bounce back after the pandemic, only to be hit with soaring energy bills and inflation.
Multiple chains have been affected, resulting in big-name brands like Wetherspoons and Frankie & Benny’s closing branches.
Some chains have not survived, Byron Burger fell into administration last year, with owners saying it would result in the loss of over 200 jobs.
Pizza giant, Papa Johns is shutting down 43 of its stores soon.
Tasty, the owner of Wildwood, said it will shut sites as part of major restructuring plans.
It comes after the creator of a Michelin-backed restaurant has confirmed a devastating closure after 14 years.
Loyal diners were disappointed to hear one of their favourite family-run venues was shutting down forever.
Elsewhere, a BBC star suddenly closed his restaurant after nine months – despite a £400,000 revamp just last year.
Caldesi opened in Belsize, north London last April, serving upmarket Italian food.
But, just months later, bosses confirmed the restaurant’s upcoming closure on Instagram.
Similar scenes unfolded when one chef suddenly shut down two Michelin-hailed restaurants without warning as fans cried “I thought they’d go on forever”.
Meanwhile, The Sun has compiled a full list of celeb TV chefs that shut down Michelin-hailed restaurants last year – including a BBC MasterChef judge.
It includes Marco Pierre White’s restaurant Mr White’s Steak, Pizza and Gin House, located in London’s iconic West End, that abruptly closed in January 2024.
And, Michelin-starred chef Michel Roux Jr also closed the doors on his iconic restaurant Gavroche.